2005 Annual

Meeting of Shareholders

R

2

Agenda

“This is Lear” Video

Strategic and Financial Review

Dave Wajsgras, SVP & CFO

Americas Operating Review

Doug DelGrosso, President & COO – Americas

International Operating Review

Don Stebbins, President & COO – International

3

Strategic and Financial Review

4

Strategic Evolution

Seat Components to Seat Systems

Seat Systems to Total Interior Capability

Operational Excellence; Reduce Debt

1990-1994

1994-1999

1999-2003

Going Forward Profitably Grow the Business

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Steadily increased net sales over the last ten years to $17 billion in 2004Transformed from a seat assembly operation to one of the world’s largest automotive interior systems suppliers Ranked #127 in the Fortune 500

$0.0$2.0$4.0$6.0$8.0

$10.0$12.0$14.0$16.0$18.0

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

Lear’s Strategy has Supported Rapid GrowthNet Sales(in billions)

Net Income

CAGR 22%SALESCAGR18%

$3.1

$17.0

6

At the Same Time, We have Diversified Our Product Mix

Seats and SeatingComponents

100%

Seating 67%

Electronic / Electrical16%

Interior17%

19941994 20042004

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And Our Geographic Mix

Europe17%

North America83%

North America55%

Europe39%

Rest of World 6%

19941994 20042004

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Other Asian

DaimlerChrysler

BMW

PSA

All OtherFiatVW

Renault Mazda

And Diversified Our Customer Mix

Classic Ford & GM*

75%

All Other25%

Extended Ford & GM-Saab, Volvo,

Jaguar and Land Rover10%

Classic Ford & GM*

46%

-Nissan

19941994 20042004

* Includes Opel

9

Financial Highlights

Last Few YearsSolid revenue growth was driven by strong sales backlogIncreased net income per shareGlobal cost efficiency actions implementedDebt was reduced, overall financial position strong

2005*Three key factors impacting near-term results -- adverse platform mix, lower industry volume and high raw material and energy pricesFinancial outlook improving the balance of this year and into 2006

* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.

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Platform Mix has Adverse Impact in 2005

(4%)

(9%)(11%) (11%)

North America Production

Overall Industry

BigThree

BigThree

Trucks Lear’s Top 15

Platforms

2%

(3%)

Overall Industry

Lear’s Top 15Platforms

Europe Production

First Quarter Production: 2005 Compared With 2004

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Mitigation Actions to Help Offset Commodity Movements

Energy

Resins

Chemicals

Steel

Key Commodities

Continuing To Work With Customers And Supply BaseContinuing To Work With Customers And Supply Base

• Factor into customer productivity negotiations

• Lear’s Cost Technology Optimization process

• Supply base compression

• Re-sourcing – develop new sources of supply

• In-sourcing – fill open capacity where appropriate

• Low-cost country sourcing and engineering

• Supplier Lean Manufacturing and Six Sigma

Action Plan

12

Long-Term Outlook Remains Positive for Lear*

Near-term financial results severely depressed reflecting transitional volume and cost factors; expected to improve in second half of 2005 and going forward

Strong three-year sales backlog of $3.8 billion is up 25% from last year’s three-year backlog

Platform mix to improve in 2006 with full-year benefit of major 2005 launches and introduction of GMT900

Strong and flexible overall financial position

* Please see slide titled “Forward-Looking Statements” at the end of this presentation for further information.

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Americas Operating Review

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U.S. and Canada

28,000 Employees

85 Locations

Americas

15

Mexico and Honduras

34,000 Employees

36 Locations

Americas

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Lear’s Importance in Mexico

Lear Ranks # 16 Among All Companies In Mexico

#1 Petroleos Mexicanos

#2 Wal Mart de Mexico

#3 FEMSA

#4 Comision Federal de Electricidad

#5 Grupo Carso

#16 Lear

Maquiladora Company

Lear Ranks # 2 AmongMaquiladoras In Mexico

Delphi

Lear

General Electric

Yazaki North America

Alcoa Fujikura Ltd.

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Manufacturing Footprint

Regional Concentration in Juarez, Chihuahua & MonterreyRegional Concentration in Juarez, Chihuahua & Monterrey

Juarez• 5 Trim facilities• 4 Wire facilities• 2 JV’s (wire)

Chihuahua• 5 Wire facilities

Hermosillo• 1 Seat Facility

Ramos/Saltillo• 1 Trim facility• 1 seat facility• 2 Interior facilities

Monterrey• 1 Interior Facility

Silao• 1 Seat Facility

Toluca• 2 Interior facilities

Tlahuac• 1 Interior facility

Honduras• 2 Wire facilities• 1 JV (wire)

Puebla• 1 Seat facility

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South America

2,000 Employees

3 Countries / 9 Locations

Americas

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Industry production volume

Platform mix

High raw material costs

Ever increasing customer requirements

North America

Customer focus

Solid fundamentals

Dedicated team

Leadership position in total interiors

Challenges Strengths

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Major North American Launches

Hyundai SonataSeats, Wire Harness

SOP: 1Q 2005

Chevy Impala / Chevy Monte CarloSeats

SOP: 2Q / 3Q 2005

Cadillac DTSTotal Interior Integrator, Electrical Distribution

SOP: 3Q 2005

Buick LucerneTotal Interior Integrator,Electrical Distribution

SOP: 4Q 2005

Note: Products in red are produced in Mexico/Honduras.

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Dodge Ram TruckSeats, Doors, Instrument Panel,

Overhead SystemsSOP: 3Q 2005

Ford Explorer / MountaineerSeats, Doors, Electrical Distribution

SOP: 3Q 2005

Ford Fusion / Milan / ZephyrSeats

SOP: 3Q 2005

Chevy HHRCockpit, Flooring & Acoustics

SOP: 2Q 2005

Note: Products in red are produced in Mexico/Honduras.

Major North American Launches

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Americas – 2005 Strategy

Improve quality and customer service

Reduce costs – get leaner

Support flawless launches

Identify new growth opportunities

Serve as a catalyst for our customer’s success

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International Operating Review

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20 Countries

37,000 Employees

103 Locations

Europe / Africa

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33rdrd Consecutive Year Of Improving Financials Consecutive Year Of Improving Financials

$247

$310

2002 2003 2004

Overall in Europe, We have Grown Sales and Steadily Improved Margins

$351 Growing sales and improving margins

Positive cash flow

Expanding our low-cost manufacturing and sourcing in Eastern Europe and Northern Africa

European FinancialsEurope CPV

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7 Countries

9,000 Employees

38 Locations

Asia

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Asia Footprint

Major presence in China, India, Korea, Japan, Thailand and the Philippines

Significant infrastructure in place

7 engineering centers in the region

Establishing relationships and growth through joint ventures

12 joint ventures in China

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Continuing to Diversify Our Customer Mix

Non-Traditional Big Three*

* Excludes affiliates of GM (other than Opel), Ford and DaimlerChrysler.

VW/Audi- Seats and electronics in Europe- Audi A6: seats in China

Hyundai- Sonata: seats & wire harness award in NA- Several electronics awards (TPMS) in NA- Tucson: seats in Korea- Tucson/Sonata: seats in China

Nissan- Global seating with JV partner, Tachi-S- Electrical distribution program in Europe

Toyota- Tundra: interior trim award in NA- Aygo: seats (Toyota/PSA JV) in Europe

19%

46%

1994 2004

Recent Customer Diversification

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2002 2003 2004 Future

We are Rapidly Growing Our Businessin Asia and with Asian Automakers Globally*

$850

$1,250

$1,800

Lear’s Asian Sales More Than Doubled From 2002 To 2004;Solid Growth Expected To Continue

(in millions)

* Consolidated and unconsolidated sales. Please see slide titled “Forward-Looking Statements”at the end of this presentation for further information.

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Major International Launches

BMW 3 SeriesSeats, Electronics

SOP: 1Q 2005

Peugeot 407 CoupeSeats

SOP: 2Q 2005

Nissan Serena Electrical Distribution

SOP: 2Q 2005

Audi A6 - ChinaSeats

SOP: 1Q 2005

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International – 2005 Strategy

Continue quality and customer service focus

Execute growth priorities and ensure appropriate program profitability

Implement strategic footprint plan, including the expansion of low-cost opportunities

Finalize terminal and connectors business integration

Utilize advance sales team and technology board

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This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated financial results. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties, including but not limited to, general economic conditions in the markets in which the Company operates, fluctuations in the production of vehicles for which the Company is a supplier, labor disputes involving the Company or its significant customers or suppliers or that otherwise affect the Company, the Company’s ability to achieve cost reductions that offset or exceed customer-mandated selling price reductions, the outcome of customer productivity negotiations, the impact and timing of program launch costs, the costs and timing of facility closures, business realignment or similar actions, increases in the Company’s warranty or product liability costs, risks associated with conducting business in foreign countries, competitive conditions impacting the Company’s key customers, raw material cost and availability, the Company’s ability to mitigate the significant impact of recent increases in raw material, energy and commodity prices, the outcome of legal or regulatory proceedings to which the Company is or may become a party, unanticipated changes in free cash flow and other risks described from time to time in the Company’s Securities and Exchange Commission filings.

This presentation also contains information on the Company’s sales backlog. The Company’s incremental sales backlog reflects: anticipated net sales from awarded new programs, less net sales from phased-out and cancelled programs. The calculation of backlog does not reflect customer price reductions on existing or newly-awarded programs. The three-year backlog may be impacted by various assumptions embedded in the calculation, including vehicle production levels on new and replacement programs, foreign exchange rates and the timing of program launches.

In addition, the full-year 2005 per share earnings guidance is based on an assumed 73 million shares outstanding, including 4.8 million shares related to the outstanding contingently convertible debt.

The forward-looking statements in this presentation are made as of the date hereof, and the Company does not assume any obligation to update them.

Forward-Looking Statements